Alkeon Down 20% In Q1: Believes Tech Rally Is Only Just Getting Started

Alkeon Growth Partners has achieved one of the best track records of any growth fund. Unfortunately, its exposure to expensive tech stocks has become a burden this year. As tech sector valuations have crashed back to earth, Alkeon’s heavy exposure to the industry has caused significant losses in its portfolio. For the first quarter of the year, the fund returned -19.7%, according to a copy of its investor update, which ValueWalk has been able to review. This was far worse than the MSCI All Countries World Index, which returned -5.7% over the same timeframe. Despite these double-digit losses during the…